With President Trump's tax reform bill now signed into law, some major U.S. corporations may now be prompted to bring back their cash from abroad. Raw Story Staff Writer Elizabeth Preza and CRTV Congressional Correspondent Nate Madden explain how people and businesses are reacting to the new tax policy.
"You're going to see an influx of some companies bringing assets back," says Madden. "They've gotten a one-time break on this, so they can move it without taking a tax hit." Corporations bringing more investments to the United States aligns with President Trump and the GOP's message on jobs says Madden.
Preza says it's important to look at the impact on jobs through previous corporate tax cuts like the one in 2004 enacted by the Bush administration. "The Congressional Research Service found that, instead of using money to invest back into the company, [corporations] really paid out shareholders and gave it back to themselves," says Preza.
The Biden administration has stopped taking mobile app appointments to admit asylum-seekers at a Texas border crossing that connects to a notoriously dangerous Mexican city after advocates warned U.S. authorities that migrants were being targeted there for extortion.
Donald Trump arrived in Florida on Monday ahead of a history-making federal court appearance on dozens of felony charges accusing him of illegally hoarding classified documents and thwarting the Justice Department's efforts to get them back.
The Supreme Court said Monday it won't review North Carolina's decision to stop issuing specialty license plates with the Confederate flag.
The Human Rights Campaign has declared a state of emergency for the lgbtq+ community. The unprecedented move comes after the passage of more than 75 anti-gay bills this year alone. Here with more is Cheddar News senior reporter Chloe Aiello.
President Joe Biden welcomed hundreds to the White House on Saturday for a delayed Pride Month celebration aimed at showing LGBTQ+ people that his administration has their back at a time when advocates are warning of a spike in discriminatory legislation, particularly aimed at the transgender community, sweeping through statehouses.
Silvio Berlusconi, the boastful billionaire media mogul who was Italy’s longest-serving premier despite scandals over his sex-fueled parties and allegations of corruption, died Monday. He was 86.
“Any consumer can tell you that online airline bookings are confusing enough," said William McGee, an aviation expert at the American Economic Liberties Project. "The last thing we need is to roll back an existing protection that provides effective transparency.”
Cheddar News checks in to see what to look out for Next Week on the Street as former president Donald Trump makes an appearance in federal court after being indicted. Investors will also keep an eye on the Federal Reserve meeting to see what comes out of that while earnings continue to pour in.
U.S. Vice President Kamala Harris announced Thursday that the U.S. is investing more than $100 million in the Caribbean region to crack down on weapons trafficking, help alleviate Haiti’s humanitarian crisis and support climate change initiatives.
It is arguably the most perilous of multiple legal threats against the former president as he seeks to reclaim the White House.
